The near collapse of OSG hurt a little. My bigger lament is that I missed out on this idea as ashort candidate as opposed to a long idea. In hindsight, there were a few clues that I overlookedbecause this was a "tanker biggie". A couple of clues- the fact that something as importantas financing kept on being dragged on and on. Also, me just assuming the gap (the supposed $100M)could be covered by the unencumbered vessels. My takeaway- Dig harder into a beaten-down idea,especially one that came close to being a "too difficult" idea in a sector I enjoy tearing into.

Collateral damage to DHT, with a fair amount of charter tie-in to OSG. DHT slashing theirdividend from 24c => 2c in Q3 also didn't help. Funny how company mgmt claimed no paymentstill 2014, then till 2015, yet keep making payments to stay within loan covenants. They claimOSG have been paying them on time, but if OSG declare Ch 11, things go downhill very quickly.OTOH, that might be an opportunity for another tanker manager e.g. FRO might agree tocommercially manage some, or all, of DHT's vessels.

Announcements

When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.

Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.